Key Takeaways
- General contractors and subcontractors with signed project contracts and payment history qualify based on backlog and revenue
- U Visa contractors with active licenses, bonds, and EINs qualify — no green card required
- Equipment, working capital, and contract mobilization funding up to $5M
- SBA's 2026 citizenship rule blocks all U Visa contractors from government-backed construction financing
- 48-hour decisions using signed contracts, AIA payment applications, and bank statements
Construction economics are defined by contract backlog, gross margin per project, and equipment utilization. A general contractor managing $3M in annual project volume at 12% net margin generates $360K in net income. A specialty subcontractor — electrical, plumbing, HVAC — might achieve 15–20% net margins on $1.5M in annual revenue. The challenge is timing: construction contracts are signed months before revenue is earned, material purchasing must precede project execution, and equipment needs arise faster than project payments arrive. Hispanic and Latin American contractors represent 40%+ of US construction labor, and many immigrant-owned construction businesses hold U Visa status or were built by owners who navigated the deferred action pathway.
U Visa construction business owners face a compounding financing challenge: their project backlog is real, their equipment is tangible, and their revenue is documented through AIA G702 payment applications — yet banks decline based on visa status. The SBA's March 2026 citizenship rule eliminated the government-backed construction loan pathway. Bankable evaluates construction businesses on signed contract backlog, payment application history, and equipment value — the actual metrics of construction business health.
What Bankable Funds for Construction Operators
- Contract mobilization: Fund material purchasing, equipment rental, and crew costs at contract start before first progress payment
- Equipment acquisition: Excavators, skid steers, concrete equipment, and specialty trade tools
- Bonding and insurance premiums: Performance bonds, payment bonds, and general liability insurance premium financing
- Subcontractor payment bridge: Pay subcontractors on schedule while awaiting GC payment application approval
- Working capital: Bridge 30–90 day payment cycles between completed work and approved payment receipts
Contract Backlog and Progress Payment Underwriting
Bankable underwrites construction businesses using signed contract documents, AIA G702 payment applications, and six months of business bank deposit records showing actual construction revenue received. Contract backlog value — the sum of signed, not-yet-earned contract revenue — is a primary input in sizing construction tranches. A contractor with $800K in trailing revenue and $1.2M in signed backlog accesses a meaningfully larger tranche than revenue alone suggests. Check your Bankability Score to assess your construction business fundability.
Contract mobilization financing is particularly valuable: when you win a $500K commercial project, you might need $75K–$100K in materials and crew costs before the first progress payment arrives. Bankable's mobilization tranche covers that gap, allowing you to start projects immediately and professionally rather than negotiating payment schedules that weaken your position with GCs. See our loan products overview for the full picture of available capital structures.
Frequently Asked Questions
Yes. Bankable does not require citizenship or permanent residency. U Visa contractors with active state licenses, bonding, work authorization, and documented project revenue qualify on business merit.
General contractors, residential builders, commercial contractors, specialty subcontractors (electrical, plumbing, HVAC, roofing, framing, concrete, painting), civil contractors, and construction management firms all qualify.
U Visa contractors are now completely excluded from SBA 7(a) construction loans, SBA Express working capital, and SBA equipment financing under the March 2026 citizenship mandate. Bankable's revenue-based funding is fully available.
Yes. Contract mobilization is one of our most common construction use cases. We review the signed contract and structure a tranche to fund initial materials and crew costs, with repayment calibrated to your expected progress payment schedule.
Six months of bank statements, 2–3 signed project contracts or subcontracts, recent AIA G702 payment applications showing work billed and received, and contractor license and bonding documentation.
Yes. Equipment financing for excavators, lifts, concrete equipment, trailers, and specialty trade tools is a core construction use case. We evaluate equipment productive value alongside purchase price.
Initial tranches are typically 15–25% of trailing 6-month revenue, adjusted for signed backlog value. A contractor with $600K trailing revenue and $900K in backlog might access $120K–$200K in an initial tranche. Maximum is $5M.
Yes. Performance bond premiums, payment bond premiums, and annual general liability insurance payments are eligible uses of Bankable's working capital tranches for construction businesses.
Repayment is typically calibrated to your project payment schedule — fixed weekly or bi-weekly amounts sized to 10–15% of expected monthly payment applications received. We accommodate seasonal business patterns in multi-year tranche structures.
Your Bankability Score evaluates gross margin per project, contract backlog as a multiple of trailing revenue, payment application approval rate, bonding capacity, and revenue trend. Contractors with diversified project types score best.